Global Gold Prices Rise - Jordan News
Gold prices edged higher on Thursday, supported by a weaker U.S. dollar and growing uncertainty following reports that former President Donald Trump may consider replacing Federal Reserve Chairman Jerome Powell as early as September or October. اضافة اعلان The reports raised concerns about the future independence of the U.S. central bank, boosting demand for gold bullion as a safe haven. Spot gold rose 0.2% to $3,339.20 per ounce as of 02:42 GMT, while U.S. gold futures climbed 0.3% to $3,353.10. The dollar fell to its lowest level since March 2022, making dollar-denominated gold cheaper for foreign buyers. Speaking before a Senate committee on Wednesday, Powell said that although Trump's tariffs could cause a temporary spike in prices, the risk of sustained inflation is high enough to keep the central bank cautious about further interest rate cuts. Tim Waterer, chief market analyst at KCM Trade, noted: 'Trump clearly wants a more accommodative Fed Chair next time, so the growing likelihood of an aggressive rate-cutting cycle is weighing on the U.S. dollar.' Gold tends to perform well during periods of uncertainty and in low interest rate environments. On Wednesday, Trump described Powell as 'very bad' and said he was considering three or four candidates to lead the Federal Reserve. Meanwhile, The Wall Street Journal reported that Trump had considered announcing Powell's potential successor by September or October. Markets are now awaiting the release of U.S. GDP data later today, with personal consumption expenditures (PCE) data due on Friday. 'Gold is holding steady for now as we await the next batch of U.S. macroeconomic data, including GDP and core PCE,' Waterer added. A ceasefire between Israel and Iran appeared to be holding on Wednesday. At the NATO summit, Trump praised the quick end to the 12-day conflict and said he would seek a commitment from Iran to end its nuclear ambitions in next week's talks.
Spot silver rose 0.2% to $36.36 per ounce, platinum jumped 2.3% to $1,385.38, and palladium surged 5.5% to $1,115.58. (Agencies)
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Washington Launches Investigation into Leak of "Top Secret" Intelligence Report on Iran Strikes - Jordan News
U.S. Secretary of Defense Pete Hegseth announced that an investigation has been launched into the leak of a preliminary intelligence report prepared by the Defense Intelligence Agency (DIA) regarding the recent American strikes on Iran. اضافة اعلان Speaking to reporters in The Hague, Netherlands, on Wednesday, Hegseth confirmed that the U.S. airstrikes had destroyed Iran's nuclear capability. He described the media coverage of the leaked intelligence report—which he called 'Top Secret'—as 'politically motivated.' 'We've launched an investigation with the FBI into the leak of this report,' Hegseth said. 'It was an internal document, and networks like CNN and others tried to discredit the highly successful President Donald Trump.' He also referred to President Trump's remarks during a press conference, in which Trump stated that the bombs had hit their intended targets precisely and caused the anticipated damage. 'Iran knows this too,' Hegseth added. 'If you want to assess what happened at the Fordow facility,' he said, 'you'll need a big shovel and to dig deep—because Iran's nuclear program has been destroyed.' He again criticized the media for publishing the leaked report. The initial intelligence assessment, obtained and published by CNN, stated that the U.S. airstrikes on three Iranian nuclear facilities over the weekend likely did not destroy the core infrastructure of Iran's nuclear program, but rather set it back by only a few months. On June 13, Israel, backed by the United States, launched a 12-day assault on Iran that targeted military and nuclear sites, civilian infrastructure, and involved the assassination of military leaders and nuclear scientists. Iran responded by striking Israeli military and intelligence targets with ballistic missiles and drones. Following Iran's missile retaliation and the heavy losses inflicted on Israel, the U.S. launched its own airstrikes on Iranian nuclear facilities on June 22. In response, Iran struck the U.S. Al-Udeid Air Base in Qatar. On June 24, the U.S. announced a ceasefire between Tel Aviv and Tehran. There remains considerable ambiguity and conflicting narratives regarding the extent and impact of the damage to Iran's nuclear facilities. Tehran has only stated that the sites were "heavily damaged" and insists the Israeli-American offensive failed to achieve its objectives, without offering detailed explanations. Meanwhile, Israel and the U.S. maintain that the Iranian nuclear program has been destroyed or set back for years. (Anadolu Agency)
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Wall Street Journal: Disputes Over Leaked Intelligence Report on Iran Deepen Uncertainty About Trump's Claimed Achievements
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Jordan News
6 hours ago
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Global Gold Prices Rise - Jordan News
Gold prices edged higher on Thursday, supported by a weaker U.S. dollar and growing uncertainty following reports that former President Donald Trump may consider replacing Federal Reserve Chairman Jerome Powell as early as September or October. اضافة اعلان The reports raised concerns about the future independence of the U.S. central bank, boosting demand for gold bullion as a safe haven. Spot gold rose 0.2% to $3,339.20 per ounce as of 02:42 GMT, while U.S. gold futures climbed 0.3% to $3,353.10. The dollar fell to its lowest level since March 2022, making dollar-denominated gold cheaper for foreign buyers. Speaking before a Senate committee on Wednesday, Powell said that although Trump's tariffs could cause a temporary spike in prices, the risk of sustained inflation is high enough to keep the central bank cautious about further interest rate cuts. Tim Waterer, chief market analyst at KCM Trade, noted: 'Trump clearly wants a more accommodative Fed Chair next time, so the growing likelihood of an aggressive rate-cutting cycle is weighing on the U.S. dollar.' Gold tends to perform well during periods of uncertainty and in low interest rate environments. On Wednesday, Trump described Powell as 'very bad' and said he was considering three or four candidates to lead the Federal Reserve. Meanwhile, The Wall Street Journal reported that Trump had considered announcing Powell's potential successor by September or October. Markets are now awaiting the release of U.S. GDP data later today, with personal consumption expenditures (PCE) data due on Friday. 'Gold is holding steady for now as we await the next batch of U.S. macroeconomic data, including GDP and core PCE,' Waterer added. A ceasefire between Israel and Iran appeared to be holding on Wednesday. At the NATO summit, Trump praised the quick end to the 12-day conflict and said he would seek a commitment from Iran to end its nuclear ambitions in next week's talks. Spot silver rose 0.2% to $36.36 per ounce, platinum jumped 2.3% to $1,385.38, and palladium surged 5.5% to $1,115.58. (Agencies)
